AfDB Provides €30 Million to Boost Women-Led SMEs in Côte d’Ivoire
The African Development Bank (AfDB) Group has signed a €30 million financing agreement with Bridge Bank Group Côte d’Ivoire to support small and medium enterprises (SMEs), with a special focus on women-led businesses.
The partnership aims to strengthen SME investment capacity, particularly in priority sectors such as agro-industry, industrial production, education and healthcare, while expanding the bank’s international trade financing activities in Côte d’Ivoire. SMEs represent a significant share of the country’s formal businesses, underscoring their central role in economic growth.
The financing package comprises three components: a €10 million subordinated loan to reinforce Bridge Bank Group’s capital base, a €10 million trade finance guarantee for SME import and export needs, and a €10 million portfolio guarantee to support women-owned or women-led enterprises.
Ahmed Attout, Director of the AfDB Financial Sector Development Department, said: “This contribution supports financial inclusion, gender equality, private sector development and regional integration. It is designed to empower women entrepreneurs and facilitate access to markets.”
Bridge Bank Group will also benefit from technical assistance from the Affirmative Finance Action for Women in Africa (AFAWA), with support from the Women Entrepreneurs Finance Initiative (We-Fi). This assistance aims to tailor banking products to the specific needs of women entrepreneurs, unlocking up to €20 million in direct financing for them.
Ehouman Kassi, General Manager of Bridge Bank Group, described the agreement as “a strategic milestone in our mission to support inclusive and sustainable growth aligned with Côte d’Ivoire’s National Development Plan.”
Bridge Bank Group, ranked tenth in Côte d’Ivoire and 13th in the West African Economic and Monetary Union zone, operates in both Côte d’Ivoire and Senegal.
